Etihad has won the Treasury Team of the Year award in the inaugural Association of Corporate Treasurers' Deals of the Year awards. The team demonstrated a best practice approach to treasury and better financial management. Qatar Telecom has won the Corporate Treasury Deal of the Year. The winning deal opened up the Dubai region to outside investors – who were attracted by business opportunities on an international scale. The Deals of the Year awards are unique as they are chosen by treasury practitioners. The awards are designed to celebrate the achievements of the corporate treasurer in successfully accessing the debt and equity markets on behalf of their company. All types of deal were considered and judged on the basis of meeting the consistent criteria, rather than on the size of the deal. The awards were presented at the ACT Middle East Gala Dinner, held on 28 October 2009. Stuart Siddall, ACT Chief Executive, said:
The Association of Corporate Treasurers is delighted to recognise excellence in treasury in the Middle East through our Deals of the Year Awards. Despite the difficult market conditions the nominations for these awards were excellent. The judging panel were impressed by the innovative structure of the winning Treasury Deal and by the integrity, knowledge and flexibility of the winning treasury team. Stuart Siddall, ACT Chief Executive
James Rigney, Etihad Airways' Chief Financial Officer, said:
2009 was an extremely busy year for Etihad and for the treasury team in particular, helping to support the airline as it has continued to expand and mature into a world-class international carrier. Our vision at Etihad Airways is to become the best airline in the world, and the treasury team is committed to playing its part in achieving this goal. To receive recognition from your industry peers is always satisfying and it’s a great honour to pick up this award. James Rigney, Etihad Airways' Chief Financial Officer
Dr. Nasser Marafih, Chief Executive Officer of the Qtel Group said:
The Qtel treasury team has been successful in attracting a broad international investor base through the introduction of new financial instruments to the telecoms industry in the region. The Qtel Group obtained investment grade ratings in the midst of the credit crisis towards the end of 2008, on the basis of which the decision was taken to establish a USD 5 billion GMTN program in 2009. Following a global road show in the US, Europe and Asia, the treasury team launched the Company’s inaugural USD 1.5 billion dual tranche bond. Strong demand and momentum from global investors led to the first global bond of any telecom operator in Middle East and North Africa being more than 8 times oversubscribed. Dr. Nasser Marafih, Chief Executive Officer of the Qtel Group
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